|Unit||Mil. USD, SA|
Seasonally Adjusted at Annual Rate
|Balance of Goods||May 2020||-76,055||-71,820||Mil. USD, SA||Monthly|
|Exports of Goods||May 2020||89,969||95,502||Mil. USD, SA||Monthly|
|Imports of Goods||May 2020||166,024||167,322||Mil. USD, SA||Monthly|
|Exports of Goods and Services||2020 Q1||2,420,910||2,497,726||Mil. USD, SAAR||Quarterly|
|Imports of Goods and Services||2020 Q1||2,945,607||3,075,592||Mil. USD, SAAR||Quarterly|
|Net Exports||2020 Q1||-524,697||-577,867||Mil. USD, SAAR||Quarterly|
|Real Exports of Goods and Services||2020 Q1||2,477,158||2,536,370||Mil. Ch. 2012 USD, SAAR||Quarterly|
|Real Imports of Goods and Services||2020 Q1||3,293,784||3,437,059||Mil. Ch. 2012 USD, SAAR||Quarterly|
|Real Net Exports||2020 Q1||-816,627||-900,689||Mil. Ch. 2012 USD, SAAR||Quarterly|
The export statistics are derived mainly from mandatory information supplied by commercial exporters to the Customs Bureau, which reports these figures to the Bureau of the Census. These figures are supplemented by data from some exporters who report their shipments directly to Census. The import statistics are derived from mandatory information supplied by importers to the Customs Bureau, which reviews the data for accuracy and provides the corrected data to Census.
For imports, the value reported is the U. S. Customs Service appraised value of merchandise; generally, the price paid for merchandise for export to the United States. Import duties, freight, insurance, and other charges incurred in bringing merchandise to the United States are excluded.
Exports are valued at the f.a.s.- free alongside ship value of merchandise at the U.S. port of export, based on the transaction price including inland freight, insurance and other charges incurred in placing the merchandise alongside the carrier at the U.S. port of exportation.
Monthly data include actual month's transactions as well as a small number of transactions for previous months. Each month the Census revises the aggregate seasonally adjusted (current and constant dollar) and unadjusted export, import and trade balance figures, as well as the end-use totals for the prior month. SITC and country detail data are not revised monthly. The timing adjustment shown in Exhibit 14 is the difference between monthly data as originally reported and as recompiled.
The monthly trade statistics are notoriously volatile from month to month
The statistics are estimates of services transactions between foreign countries and the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and other U.S. territories and possessions. Transactions with U.S. military, diplomatic, and consular installations abroad are excluded because they are considered to be part of the U.S. economy.
Services are shown in seven broad categories. Types of services for imports and exports are the same for six of the seven categories. For the seventh, exports is "Transfers Under U.S. Military Sales Contracts" while for imports the category is "Direct Defense Expenditures". The following is a brief description of the types of services included in each category:
Services estimates are based on quarterly, annual, and benchmark surveys and partial information generated from monthly reports. Service transactions are estimated at market prices. Estimates are seasonally adjusted when statistically significant seasonal patterns are present. No country or area detail is available due to the lack of adequate source data upon which to base estimates.